News

VANCOUVER, BRITISH COLUMBIA / January 22, 2016 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG)
is pleased to announce the Company has entered into a Comprehensive
Development Agreement (the “Agreement”) with Dominion Excavating Ltd.
(“Dominion”).

Dominion is a First Nations-owned company based in Invermere, British
Columbia that employs local residents. As part of the Agreement Dominion
will provide a range of project development services for the Company’s
flagship Driftwood Creek magnesium project (“Driftwood”) including road construction and mine development in exchange for an equity stake in MGX.

“We remain committed to partnering with local business and bringing new
economic opportunities for the East Kootenay region,” stated MGX
President and CEO Jared Lazerson.

About MGX Minerals

MGX Minerals (CSE: XMG)
is a diversified Canadian mining company engaged in the acquisition and
development of industrial mineral deposits in western Canada that offer
near-term production potential, minimal barriers to entry and low
initial capital expenditures. For further information, please visit the
Company’s website at www.mgxminerals.com.

Neither the Canadian Securities Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Canadian
Securities Exchange) accepts responsibility for the adequacy or accuracy
of this release.

Forward-Looking Statements

This press release
contains forward-looking information or forward-looking statements
(collectively "forward-looking information") within the meaning of
applicable securities laws. Forward-looking information is typically
identified by words such as: "believe", "expect", "anticipate",
"intend", "estimate", "potentially" and similar expressions, or are
those, which, by their nature, refer to future events. The Company
cautions investors that any forward-looking information provided by the
Company is not a guarantee of future results or performance, and that
actual results may differ materially from those in forward-looking
information as a result of various factors. The reader is referred to
the Company's public filings for a more complete discussion of such risk
factors and their potential effects which may be accessed through the
Company's profile on SEDAR at www.sedar.com.

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